Vienna Stock Exchange has extended its trading technology contract with Deutsche Boerse until 2021.
The exchange will continue using Deutsche Boerse’s trading technology and infrastructure for another 6 years, according to a statement released this morning.
Cash market trading on Vienna Stock Exchange has been based on Deutsche Boerse’s Xetra system since November 1999.
The contract extension confirms Vienna Stock Exchange’s cash market will continue to operate with Deutsche Boerse‘s technology.
Michael Buhl, member of the management board of Wiener Boerse AG and its holding CEESEG AG, said: “Deutsche Boerse offers an extremely reliable, high-performance and well-recognised trading technology.
“The long-standing relationship has proven successful for both the Vienna Stock Exchange as well as other exchanges with whom we are cooperating in Central and Eastern Europe.”
Managing director Deutsche Boerse market data and services, Holger Wohlenberg, added: “This extension of the agreement with Vienna Stock Exchange is another re-confirmation for the quality and reliability of our IT services and technology solutions.
“Vienna Stock Exchange and its co-operation partners in Central and Eastern Europe will continue to benefit from our continuously improved cash market technology and a broad international network of market participants.”
The Vienna Stock Exchange considered selling its smaller Central and Eastern European exchanges, having struggled with revenues in 2014.
Michael Buhl, CEO of CEESEG, said at the time: “Although there was no significant upturn in the economies of Central and Eastern Europe in the past year, we defended our position as the largest stock exchange group in Central and Eastern Europe and were able to keep our earnings stable.”
CEE Stock Exchange sold Ljubljana Stock Exchange and Budapest Stock Exchange last year, following plans to focus on providing IT and data services.